One county government in Colorado is facing serious shortages of funds, which can be attributed to drastically rising tax arrears. The number of properties that hold tax liens has grown substantially - by more than a third. In 2009, there were approximately fourteen hundred properties listed to be in tax arrears. This year that number jumped to over nineteen hundred. Many of the new additions to the list are tied to Tanglewood Reserve.

Park County, Colorado, has had to list more than four hundred ninety properties in the Tanglewood development as a result of delinquent taxes. With each listed, there is the underlying concern over the lost tax income for the government. There are two players that have failed to pay taxes associated with the Tanglewood Reserve, and in order to release the properties from the growing list, the groups would have to pay a total of more than fifty thousand dollars. By paying this, the groups could avoid the properties heading to the auction block on October 22, at which point investors could begin bidding on the tax liens in the hope of making money on the interest payments collected from the entities behind the park.

The spokesman for the park says that the taxes will be paid and blames the current state of the reserve's finances on the weakened economy. Due to this, the plans to develop on that property have halted. Building is scheduled to resume once the economy stabilizes. After all, the entities behind the park have over eight million dollars invested in it already.

Some maintain a level of fear that the companies will not be able to come up with funds by the time of the auction. Payments are due two days prior to the sale, so they can be processed in time and by that point, the interest and fees that have accumulated as a result of the large sum being paid so late would be substantial.

For those who are interested in partaking in the sale, whether the Tanglewood Reserve properties are listed or not, it will take place on October 22, 2010 at the South Park High School. Remember that this auction does not sell the property, but sells the liens on that property. Investors pay a flat rate to receive payments plus interest on the back taxes. Should the homeowner fail to pay, then the ownership of the property can typically be claimed via a treasurer's deed. Approximately twenty-five percent of the properties with tax liens sold reach that point.